SenseiNode Raises $3.6M as LatAm’s First Blockchain Infrastructure Firm

Borderless Capital led a seed funding round for SenseiNode, a Latin American Blockchain Infrastructure firm. The company announced Wednesday.

So far there are no blockchain infrastructure providers in Latin America preventing slashing events and providing constant monitoring for clients such as exchanges and protocol foundations, SenseiNode CEO Pablo Larguía told CoinDesk.

Firms that maintain the integrity of the blockchains, known as nodes, have seen investors pour capital into them.

Alchemy and Blockdaemon are the two largest crypto infrastructure companies in the world. In January, Blockdaemon raised $207 million at a $3.25 billion valuation, while Alchemy became a decacorn after a $200 million equity investment at a $10.2 billion valuation.

Over the past six months SenseiNode ran tests of its services and deployed 50 nodes with 11 blockchains, including Ethereum, Algorand, Solana, Polkadot and Avalanche, Larguía said. The company intends to have more than 500 nodes deployed in the region by 2022. A major focus will be on Brazil and Mexico followed by Argentina, Larguia said.

Fewer than 1% of nodes worldwide are based in Latin America, Larguía said, based on Ethereum statistics as of March 31. While the U.S. has 2,459, the region’s largest country, Brazil, counts only 29. It is remarkable to see the lack of nodes in the region as Web 3 usage rises.

According to Larguía, in places like the U.S. the majority of nodes are hosted on services provided by Amazon or Microsoft, hampering the decentralization of blockchain infrastructure.

By contrast, Latin America has a “super fragmented” data center industry, providing the region with “a great competitive advantage,” Larguía said. He also said that SenseiNode has already been in talks with major Latin American data centers companies.

SenseiNode “is likely” to raise a Series A funding round in the course of 2022, Larguía said.

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